The Consequences of 15$ an hour Fast Food.?

For those that debunk the fact that prices will rise dramatically let me point out that I am 70 years old. When I took my first job at Minimum wage (1.00 and hour at the time) a new car was around 2000.00 and gasoline at the pump .35 a gallon and you could buy a house for about 19,000.00 By 1968 the minimum went to 1.60 an hour and a new house cost 24,000, gasoline was about .42 and a new car was about 2,800.00 , In 1976 the minimum increased to 2.30 an hour and a home cost 44,000.00 gasoline reached 1.00 a gallon and a new car was around 5000.00 In 2009 when it went to 7.25 the average cost of a house was 216,000 a car 14 to 30,000.00 and gasoline from 1.65 to 4.00 a gallon. Wages go up and prices go up, it is a fact.

A higher minimum wage can result to the following:

-fewer employees

-fewer hours for current employees or removed perks like tips, free food/parking, etc.

-increase in prices of products or services sold

-greater purchasing power for workers with the revenue going back to businesses they patronize and products or services they avail of or purchase

-decreased interest in college education since minimum wage jobs are paid almost the same or can be more than what jobs requiring college education pay

In relation to the minimum wage issue, here's an interesting report: http://bitly.com/1n4lqIa .

Better than existing hourly wage but not near good enough if it isn't an equal wage/benefit with all people signed on with the business, with the profit, that also works a position within the business, and nothing to those that claim they hold stock in it when they don't because that money is being used for other things. That's a hoax and a racket, imo..because all the business I know that work good are those who don't buy and sell stock with it.

1. Rising food costs

2. Higher rate of unemployment

3. Less jobs available

4. More inflation of the dollar

5. Opening the door to an even higher raise in Minimum wage.

Fast Food Corporations make Billions. They need to trickle down some $.. Prices are going up everywhere. Burger flippers R getting rent increases to.

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I love how this article talks about the 'pointy-headed geeks at the Heritage Foundation'. The Heritage Foundation is not a scientific organization, or even an organization set up to study economics. In fact it was those pointy-headed geeks at the Heritage Foundation who presented all the evidence that Reagan's defense spendup and tax breaks for rich people would balance the budget.

First of all, raises in wages don't translate directly to raises in prices, just as huge tax cuts for corporations don't translate to huge voluntary price reductions. Secondly, just how many man-hours are represented in a Whopper anyway?

But finally, and this is the biggest in my own mind, if we paid 50 cents more for a burger, that might save us a lot more than 50 cents in ER health care, food stamps, and other kinds of assistance people get who can't make a living at their jobs! Studies have shown that every employee at Wal Mart costs something like $5000/yr in taxpayer-funded services!

If you believe that corporations are more careful with their money, more efficient--a doubtful proposition but a lot of people do believe it!--then you'd figure it would be more efficient for these people to make a little more money than for GOVERNMENT to have to make up the difference!

The end result is $20 burgers and Cortana, the Windows avatar, taking your order. Rosie the Robot, Robbie and B9 in back flipping and assembling your burger. Fat union and democrat campaign coffers and MORE tax revenue flow. While more line up for EBT cards and stop looking for work.

I almost forgot--not fast anymore. You'll have to text or call well ahead and wait for the union supervisor/representative to clear your order. The last robot that hands you your food will have to see your authorization, from Obamacare, permitting you to eat so much grease.

Everything will cost more, negating the raise in pay. More taxes will be taken out, which means some of these employees will be taking home less money. Other employees will surely be laid off.

Higher inflation, greater unemployment, greater tax burden on the employed, eventual market collapse>

The great depression part 2.

Have a nice day.